Recently, the Directorate General of Internal Revenue (DGII) declared a public consultation on a draft general standard regarding country-by-country (CbC) reporting. The DGII invited for public comments up to 7 September 2021. The CbC report submission requirement was introduced by Decree No. 256-21 of 20 April 2021, which will effect from 2022. But it does not cover the specific rules for the application of the requirement. The draft general standard provides templates for the CbC report in line with OECD guidelines. Again, with the help of this general standard, the DGII establishes format and process of submitting CbC report. The draft general standard covered the following requirements of CbC reporting:

• The ultimate parent company or member entity of a MNE Group (residents of the Dominican Republic) having consolidated income equal to or in excess of DOP 38.8 billion in the previous year are subject to CbC reporting obligations.
• Any ultimate parent company that resides for tax purposes in the Dominican Republic is obliged to submit the primary CbC report no later than 12 months after the last day of the closing of the fiscal year.
• A Member Entity that is a resident for tax purposes in the Dominican Republic but not the Ultimate Parent Company of a Multinational Group need to submit the CbC report with the same due time if any of the following conditions are satisfied:

a) The Ultimate Parent Company of the MNE Group is not required to submit a Country Report by Country in the jurisdiction of your tax residence;

b) the ultimate parent’s jurisdiction of residence has an in-force international agreement for exchange of information to which the Dominican Republic is a party, but does not have a qualifying competent authority agreement for the exchange of CbC reports in force with the Dominican Republic for the reporting fiscal year; or

c) there has been a systemic failure for exchange by the ultimate parent’s jurisdiction of residence and this has been notified by the DGII to the constituent entity;

• All group members resident in the Dominican Republic are required to submit a notice by the last day of the reporting year that includes information on whether the company is the ultimate parent company, or, if none, information on identity and country of residence of the reporting unit.